Safeway plc
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< Wm Morrison Supermarkets plc < Safeway plc
Safeway was a chain of supermarkets and convenience shops, which started life in Sept.1962 in the UK as a branch of USA supermarket chain Safeway Inc.
In Nov.1986, private equity firm Kohlberg, Kravis, Roberts & Co. LP acquired Safeway Inc, and proceeded to sell off nearly 50% of its stores, including those in England. Jan.1987: In Jan.1987, KKK sold Safeway Food Stores Ltd to Argyll Foods plc.ref As a consequence, Argyll Foods plc became the 4th-largest grocer in Britain.ref
FixMe: Dumping ground at the moment.
Timelines
Safeway brand
- Nov.2016: Morrisons revived the Safeway brand for a range of products, manufactured by Morrisons, for distribution through UK independent retailers.
Safeway plc
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- ToDo: 1998-2004
- Dec.1997: Safeway plc: Safeway Food Stores Ltd changed its name.ref
- Jan.1987: Safeway Food Stores Ltd, now with 132 stores, was sold to #Argyll Foods plc, which became the 4th-largest grocer in Britain.ref piclink
- Nov.1986: Kohlberg, Kravis, Roberts & Co: to avoid a hostile takeover by corporate raiders Herbert and Robert Haft, Safeway Inc agreed to be acquired by corporate raiders Kohlberg Kravis Roberts instead, which took the company private in the 2nd-largest leveraged buyout in history.ref,ref KKK embarked on a massive sell-off of nearly 50% of Safeway Inc's stores to repay the enormous debt,ref including those in England and Australia.todo
- Sept.1962: Safeway Food Stores Ltd: Safeway Inc expanded to the UK by purchasing John Gardner (London)'s supermarket subsidiaries John Gardner (Super Markets) and Prideaux's (London), with 11 stores.ref,ref
- ToDo: Gardner Merchant Company: link
Argyll Group plc
- Lo-Cost, Amos Hinton, Presto, Barton Brands all on board. Telegraph Jun.1985
- Argyll Group: ?date?: Allied Suppliers was merged with Amalgamated Distilled Products, a distilling and off-licence company.ref
Argyll Group plc
- 1988: Lowndes & Queensway, a carpet and furniture company, was acquired. However, losses mounted and the company filed for bankruptcy.[2] It later became part of Allied Carpets Group plc.
- 1987: Safeway (UK), with 130 stores, was purchased from its American parent, Safeway Inc.
- ToDo: Argyll Foods Ltd, Reports Mar.1986 - Mar.1992 not available.
- Nov.1983: § Amalgamated Distilled Products plc, a distilling and off-licence company, was merged with Argyll Foods plc. The acquisition brought entry into the lucrative American market through agencies for Skol lager beer and a range of spirits.
- Nov.1983: Keymarket: 6 stores were purchased from the Dee Corporation plc by Argyll Stores Ltd.[3],[CH-00358043,AR-Mar.1984]
- Aug.1983: Argyll Group plc: § James Gulliver Associates Ltd changed its name, re-registering as a public limited company, and becoming the group's ultimate holdco.[CH-00358043,AR-Mar.1984]
Argyll Foods plc
- Feb.1983: Pik 'N Save: 7 stores were acquired, and rebranded as "Templeton".
- Feb.1983: Mainstop: 5 supermarkets were acquired from BAT Stores plc by Presto Food Markets.[CH-00358043,AR-Apr.1983]
- Jan.1983: Liverpool Central Oil Company Ltd, the edible oil refining business, was sold to Acatos & Hutcheson plc.[CH-00358043,Apr.1983]
- ??.1982: The London Tea & Produce Company was acquired by Gold Crown Foods Ltd.[CH-00358043,AR-Mar.1982]
- Jan.1982: Pricerite: 67 stores were acquired from International Stores Ltd, a subsidiary of BAT Stores plc by Lo-Cost Stores Ltd.ref,[CH-00358043,AR-Mar.1982] 58 stores were subsequently rebranded as "Lo-Cost", with the smaller stores being closed.
- Jun.1982: Allied Suppliers Ltd, a grocery chain, was acquired from Générale Occidentale (?Cavenham Foods Ltd?), owned by James Goldsmith. Allied Suppliers operated the Presto grocery supermarket chain with 136 stores, and 779 convenience stores t/a Liptons Supermarket (579), Templeton and Galbraith Supermarkets (102); and Moores Stores Ltd, a chain of small supermarkets in north east England. Allied Suppliers was formed in 1929 through the merger of a number of retail grocery businesses, including Liptons Ltd, Home & Colonial Stores Ltd, and Maypole Dairy Company Ltd.reftodo,todo, [CH-00358043,Mar.1982] In Mar.1983, Allied Suppliers was renamed as "Argyll Stores Ltd", becoming the group's principal operating subsidiary for retail and wholesale activities.[CH-00358043,Apr.1983]
- Mar.1982: Argyll Foods plc: the company re-registered as public.
Argyll Foods Ltd
- Feb.1981: Oriel Foods Ltd, a food manufacturing and wholesaling business substantially larger than Argyll, was purchased from American RCA Corporation,[4] bringing subsidiaries Mojo Carryway Ltd, Lo-Cost Discount Stores Ltd, Snowking Frozen Foods Ltd, Liverpool Central Oil Company Ltd, and Gold Crown Foods Ltd with it.[5] Gulliver, Grant and Webster had co-developed Oriel Foods, a listed edible oil processor, from Jan.1973-Jan.1977. In Jan.1974, RCA Corporation acquired Oriel.
- Jan.1981: Patersons Scottish Shortbread Ltd, a West Lothian, Scotland-based manufacturer of shortbread, oatcakes, tinned cakes and pies, was acquired from Geo Basset Holdings Ltd by Yorkshire Biscuits Ltd, and subsequently renamed as "Argyll Quality Foods Ltd".[CH-00358043,AR-Mar.1981] Patersons was formed in 1958 to acquire a business established in 1895. Shortbread and oatcakes were sold under the "Paterson" label, and tinned cakes and pies under the "Purdy" label.
- Nov.1980: Bonimart, a chain of 5 frozen food stores, were acquired from Moccomat UK Ltd by Cordon Bleu Freezer-Food Centres Ltd.[CH-00358043,AR-Mar.1981]
- Oct.1980: Freezer Fare: 66 stores were purchased from JH Dewhurst Ltd by Cordon-Bleu Freezer-Food Centres Ltd.[4]
- Jul.1980: Argyll Foods Ltd: Louis C Edwards & Sons (Manchester) Ltd changed its name.[4],CH, Jul.1980
Louis C Edwards
- Mar.1980: Morgan Edwards Ltd, a publicly-listed operator of 50 retail grocery stores and the Spar wholesale grocery franchise in North Wales and the West Midlands, was acquired by Louis C Edwards & Sons. Morgan Edwards was formed in 1968 to acquires a business established in 1924.
- Feb.1980: Dalgety Frozen Foods Ltd was acquired by Cordon Bleu Freezer-Food Centres Ltd and subsequently renamed as "Cordon Bleu (1980) Freezer-Food Centres Ltd".
- Jan.1980: All trading activities and assets were transferred to Louis C Edwards & Sons (Retail) Ltd; the name was changed to Edwards Meats Ltd in Apr.1980.
- Nov.1979: Cordon-Bleu Freezer-Food Centres Ltd was acquired by Louis C Edwards & Sons. Founded in 1964, the business operated 80 stores retailing frozen foods and freezers in the North, Midlands, and the South East of England. Cordon Bleu acquired 47 stores on completion.
- Dec.1979: Furniss & Co Ltd, formed in 1886 in Truro, Cornwall, was acquired by Yorkshire Biscuits Ltd. Furniss manufactured a range of quality plain biscuits and sugar confectionery.[CH-00358043,AR-Dec.1979]
- Apr.1979: Yorkshire Biscuits Ltd, a Haworth, Yorkshire-based manufacturer of a range of quality plain and half-coated biscuits, was acquired by Louis C Edwards & Sons.[CH-00358043,AR-Dec.1978] Formed in 1971, Yorkshire Biscuits sold its products under the "Bronte" and "Yorkshire Biscuits" labels.[CH-00358043,AR-Dec.1979]
- Feb.1979: Louis C Edwards: Gulliver Foods Ltd acquired a 20% interest with an option to acquire a further 9.9% from Edwards family members.[6]:77,[CH-00358043,AR-Dec.1979] Main operating subsids were: Edwards Meats Ltd, retailing fresh meat through 12 butchers shops in Manchester, and operating 48 concessions nationally in large retail stores. Morgan Edwards Ltd, incorporated in 1968 to acquire a business founded in 1924, operated 50 retail grocer's stores, as well as the Spar wholesale grocery franchise. Principally in the West Midlands and North Wales. The business had a 16% stake in Manchester United, which was sold in 1986.[5]
James Gulliver Associates Ltd
- Jul.1996: Safeway plc: Argyll Group plc changed its name.
- Aug.1983: Argyll Group plc: the company changed its name, re-registering as a public limited company.
- Apr.1977: James Gulliver Associates Ltd,/ holdco of Gulliver Foods Ltd, was formed by James Gulliver, a former Fine Fare Chief executive, Alistair Grant, a marketing specialist and David Webster, a merchant banker.[2]
- 1962: Louis C Edwards obtained a listing on the London Stock Exchange.
- Dec.1939: Louis C Edwards & Sons (Manchester) Ltd, was incorporated to acquire a meat processing business founded in 1919.[CH-00358043,AR-Dec.1979]
Amalgamated Distilled Products plc
- Nov.1983: Amalgamated Distilled Products plc, a distilling and off-licence company, was merged with Argyll Foods plc. Argyll Group plc became the ultimate holdco.[CH-00358043,AR-Mar.1984] The acquisition brought entry into the lucrative American market through agencies for Skol lager beer and a range of spirits.
- 1982: Barton Brands, a Chicago-based drinks company, was acquired.[8]
References
- ^ Morrisons completes merger with Safeway. Press Relese, Safeway plc, Mar.08.2004. Original archived on Mar.08.2004.
- ^ a b James Gulliver, Chairman Of Food Group, Dies at 66. Youssef M. Ibrahim, The New York Times, Sept.17.1996.
- ^ Argyll buys £9m stores. The times Archive, Nov.08.1983.
- ^ a b c Argyll Foods to buy RCA offshoot. Peter Wilson-Smith, The Times Archive, Dec.16.1980.
- ^ a b Obituary:James Gulliver. Brian Basham, The Independent, Sept.22.1996.
- ^ "Tycoons: where they came from and how they made it.", William Kay, Salem House Publishing, Feb.1986, ISBN: 978-0881621594
- ^ Corporate Strategy in UK Food Retailing, 1980-2002. Background paper by Geoffrey Owen, Geoffrey Owen, London School of Economics, Institute of Management, Feb.2003. Original archived on Feb.27.2008.
- ^ Yes, you’ve told us how badly Distillers is run, but what makes you think you could do better, Mr. Gulliver? page 18, The Financial Times, Jan.06.1986.